Evolving within the payments space: Secure Retail completes acquisition of Smart Technology Solutions (STS)
Omnichannel PayTech specialist Secure Retail has announced the acquisition of Smart Technology Solutions (STS), a UK-based payments acceptance software firm.
Financial terms of the deal were not disclosed.
David Russell, CEO at Secure Retail, says: “STS has built a strong reputation as a market leading cloud based payments solution provider and we are thrilled to bring them into the Secure Retail family.”
“The agnostic and modular approach to their application development fits perfectly with the strategic direction of our business and will enable us to enhance the product offerings and partnerships with our customers.”
“We look forward to the opportunities this acquisition will present Secure Retail as we continue to evolve within the payments space.”
Steve Turner, CEO at STS, comments: “STS has worked very closely alongside Secure Retail for nearly 20 years and I’m very excited about the acquisition of STS by Secure Retail and the opportunity it presents to both businesses moving forwards.”
“With Secure Retail continuing to invest in our highly experienced development team, coupled with the strong relationships they have built within the payments space, we can expand and deploy into new architectures, markets, and environments previously beyond our reach.”
Andy Leach, Investment Partner at NVM Private Equity, says: “We are delighted to be backing David and his management team in the strategic vision they have for Secure Retail.”
“The rapidly growing deployment of their payment solutions over the last five years will only be accelerated by this acquisition and we look forward to supporting the continued development of the business over the coming years.”
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